Rainbow Accounting (Accounting for Non-accountants)
Accounting has an undeserved reputation of being a dull subject. To remove this stigma, Orly Tugob, a CPA-Toastmaster, created Rainbow Accounting. The training is delivered in an engaging manner. Colors, charts, graphs and pictures are used to identify the features of the balance sheet and income statement. It is not mathematical! Attendees work on a play board as a tool to analyze accounting data. This tool drills in and translates the technical terms in an easy to grasp manner. Balancing transactions is easy and fun. It erases the ‘accounting is a boring’ stigma. Who will benefit from this training? • Supervisors, Managers, Entrepreneurs, Business Owners, Engineers, Project Managers, Doctors and other technical professionals who make business decisions • Accounting Professors and Accountants who are looking for a simple and fun way of teaching accounting to their students/subordinates Major takeaways: •Play with hands-on exercises to record transactions and prepare financial statements •Be familiar with forms and books needed to avoid BIR and SEC examination findings •Apply internal controls to safeguard assets •Easily understand accrual accounting and adjusting entries •Read and understand the Audited Financial Statements, Notes to FS and the CPA opinion •Make intelligent decisions using data from financial statements
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Rainbow Accounting (Accounting for Non-accountants)
- 1. ACCOUNTING talk2me@optugob.com FB:OPTTraining and Consulting Services https://talk2me26.wixsite.com/opttraining In-house Training for Non-accountants
- 2. ACCOUNTING isBoring? “According to the American Journal of Business Education the decline in quantity and quality accounting of majors student enrollments in alerted academicians, professionals, and professional bodies. This led reasons researchers regarding to investigate the career choice in accounting field. The results indicated that non-accounting majors may accounting choose a because they major other than believe accounting to be too number-oriented and boring.”
- 4. Accountinghasanundeserved reputation of beingadull subject. To remove this stigma, Orly Tugob, a CPA- Toastmaster, created Rainbow Accounting. Like a anpowerful speech, the program is delivered in engaging manner. Colors,charts, graphsand pictures are used to identify the features of balance sheet and income statement. It is not mathematical! Attendees work on aplayboard asatool to analyzeaccounting data.
- 6. Major takeaways from this training: Play with hands-on exercises to record transactions and prepare financial statements Be familiar with forms and books needed to avoid BIR and SEC examination findings Apply internal controls to safeguard assets Easily understand accrual accounting and adjusting entries Read and understand the Audited Financial Statements, Notes to FS and the CPA opinion Make intelligent decisions using data from financial statements
- 7. Who will benefit from thistraining? • Supervisors, Managers, Entrepreneurs, Business Owners, Engineers, Project Managers, Doctors and other technical professionals who make business decisions. • Accounting Professors looking for a simple and Accountants and fun way of who are teaching accounting to theirstudents/subordinates.
- 8. Forin- house training : talk2me@optugob.com Colors and the Elements of Accounting
- 9. Assets Resources owned by the business Uses of Funds External and Internal Sources of Funds Liabilities Claims on the assets by creditors Capital Claims of the owner Expenses Value consumption Revenue Value generation Income Revenues and Expenses Rainbow Accounting Guide Sheet +=
- 11. Cash Receivables Prepaid Insurance Office Supplies Plant or Building Equipment Balance Sheet -Assets
- 13. Advances from Members Payables to Suppliers Salaries of Employees Accrued Taxes Deposits from Members Long Term Loans Balance Sheet -Liabilities
- 14. Blue Ownership Commitment RAISING CAPITAL
- 15. Contributions/Capital Stock Retained Earnings- Surplus Advances Income / Loss Revenue Less Expense Balance Sheet – Owner’s Equity
- 16. Purple – Income – Mystical Resultsof Operation
- 17. Orange and Yellow – Revenue – Warning Inflows and Outflows
- 18. Guided by colors, learners analyze transactions and easily create entries on a guide board that will soon transform into FinancialStatements. Easy andFun!
- 19. Accounting Storytelling Learn to Read FinancialStatements
- 20. Read and relate the numbers on the financial reports, the fun way.
- 21. Ang boyfriend ni Inday aymayaman. May $321.9MIN TOTALASSETS ! Pakasal kana,Inday!
- 22. Teka,ang cash isonly $364.16K, kasama pa dun yung mga cheke . Baka naman tumalbog mga checks, eh di mas kokonti ang cashnya! Mayaman ba talaga yun? Eh 0.11 % lang ang cash ng$321.9M total assets.
- 23. Nasa pautangan pala ang mga assets! Ano bang negosyo ng BF niInday? CONTINUE THESTORY…………………….
- 25. ORLY P. TUGOB trains business professionals to understand complex enterprise scenarios, analyze financial reports and present ideas with powerful persuasion. Orly represented the Philippines in Toastmasters International Competitions in Atlanta and Texas, USA. He won 2nd place among countries he competed within theregion. As a CPAwith 25 years of banking experience, he has examined a wide spectrum of businessoperations. Orly is the creator of Rainbow Accounting. This fun training uses colors, charts and pictures to demystify accounting jargons. It is non-mathematical and learners read financial statements like a comic book.